Modupe Gbadeyanka
By Modupe Gbadeyanka
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said he had directed commercial banks to begin to dispense the old N200 notes to customers.
He said this on Thursday after a meeting with President Muhammadu Buhari in Abuja.
According to the CBN chief, he had a meeting with executives of 15 banks in the country to discuss ways to comply with the directive of Mr Buhari this morning in his nationwide broadcast.
“To further ease the supply pressures, particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.
“In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points,” President Buhari declared.
Addressing newsmen today, Mr Emefiele urged Nigerians to allow the Naira redesign policy of the government to work, emphasising that it would go a long way to help the nation’s economy.
